Overview of Bakery and Confectionery Business in Nigeria

It seems that Nigerians are taking bakery and confectionery business with levity hands. This is one business that is basically the food basket of cultures people around world. There is no nation - developed, semi-developed or under-developed - in the world that does not depend on bakeries and confectioneries for food. You can begin and run a bakery and confectionery on either a small scale or large scale. Bakeries and confectioneries produce all food varieties made with flour such as breads, cookies, cakes, bread, snacks, and so on. Bakery and confectionery business is a certain method of breaking from hardship in Nigeria since people must eat. People require food to remain alive. They require food to always keep heart and soul together. Products from bakeries are constantly in high demand since people cannot do without it. The very best type of businesses to perform in Nigeria are those businesses that offers services or products that fall under the umbrella of important commodities or services. For example, it is challenging for all members of a household to withstand need or appeal to eat a minimum of one loaf of bread in a weak. Calculate it by the number of households that are your possible clients and you will find how profitable this business is.

Potentials of Bakery and Confectionery Business in Nigeria

Bakery and confectionery business is a really lucrative business in Nigeria. Nigerians consume a great deal of baked foods particularly bread. Bread is a typical meal staple in lots of Nigerian homes. Adults and children in Nigeria see bread as the fastest and simplest meal to consume with drinks or various other foods such as moinmoin, bean cake or butter. Bread consumed as a meal does not require any type of preparation for the consumer. Nigerians likewise like cake for birthday celebrations, weddings and so forth. Countless Nigerians consume bread daily no matter the tribe, religion or gender. This is why your idea to begin a bakery and confectionery business in Nigeria is a good one and profitable decision.

Steps to Starting a Bakery and Confectionery Business in Nigeria

These are the step by step for setting up a bakery and confectionery business in Nigeria;

Business Evaluation

You have to evaluate how you really desire your bakery and confectionery store to be, the size, the kind of bread you wish to bake and the varieties of snacks, all these need to be thought about and correctly analyzed before moving to the next action. Understanding how to get your capital and extra money for miscellaneous, choosing an ideal place, and so forth.

Business Plan

This is likewise very important, this will direct your spending, just as in every other business you have to write a neat and well-structured business plan for your bakery and confectionery business. A great business plan will include your techniques, and how you plan to lead the competitors in the bakery and confectionery business.

Register your Business

You plan to deal in food which implies you need to register your business with the government agency that manages anything that concerns food and drugs, apart from registering a CAC (Corporate Affairs Commission) for your company brand you likewise have to register with NAFDAC (National Agency for Food and Drug Administration and Control). As soon as you are registered, people will not be afraid of buying what you produce.

Location

This is crucial and ought to be taken seriously, one thing is having a business another is selecting a befitting place, if you make the blunder of selecting a place that is not good for the market you sell then your business can fold up within months of starting it. We do not want you in such a circumstance so ensure you select a place where the need for your bakery and confectionery items is mostly required. Ideally, you have to remain in the city or a place near to the city where transport will not be an issue likewise electricity.

Recruitment of Employees

Whether you mean to begin little or big, that you plan to be serious with your bakery and confectionery business you have to employ at least two or more workers/employees to help your baking and confectionery business running efficiently. Many times you as a boss have to connect with your clients and you may not have the chance to meet the set number of items you plan to make every day. The number of workers depends on how big your business is you will be requiring an experienced specialist in the area to guarantee steady productivity.

Step Equipment

You do not have to be informed that running a bakery and confectionery business demands some equipment, varying from oven to mixers, slicer, and so forth, likewise your product packaging includes an attractive label or printed package bags. After all, these have been met then you have to start with the production, marketing, and selling of your baked products.

Overview and Features of the Excel Template

The excel template comes with a powerful presentation and a thorough financial analysis and model for succeeding in this business venture. The template will enhance your chances of getting grants, attract investors and bank loans.

Inside this template, you will get:

1. 3 years Income Statement.
2. 3 Years Financial Position
3. Cash flow Statements
4. Trial Balance and Account Charts.
5. Automated Macros to make the template faster, user friendly and accurate with little or no manual input.
6. 24/7 Support from our team of financial experts and analysts.